// The administrators of Debenhams have made more than £7.2 million in fees since the department stores chain filed for insolvency
// Documents show that FRP Advisory received an additional £1.9m in remuneration between April and October this year due to increased staff rates
The administrators of Debenhams have made millions in fees since the department store went under in 2020, the Times has revealed.
According to reports, FRP Advisory has made more than £7.2m in fees since the business filed for insolvency
The administrators managed the sale of the retailer’s brand and website to fast-fashion giant Boohoo for £55m in January 2021, and documents show that FRP Advisory received an additional £1.9m in remuneration between April and October this year due to increased staff rates.
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Debenhams first filed for administration in 2019, and the news comes as retail giants like Made.com face a similar fate.
The online furniture retailer collapsed into administration last week with Next snapping up its brand, domain names and intellectual property for £3.4 million.
Joules also announced plans to appoint its own administrators this morning, putting 1,600 jobs at risk.
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1 Comment. Leave new
people like me ended up loosing a job after 20 years of service isn’t it a wonder how they have managed to rebuff so many potential buyers just to fill their pockets. SOD the company and the workers